PQ 57

10/21/2011

PetroQuest Energy (PQ) has an active development program in the Woodford Shale and disclosed an update on recent operations here. The company reported the twenty four hour gross production results for five wells drilled into the Woodford Shale formation in Oklahoma.

The PQ 56 well had gross production of 6.29 million cubic feet of natural gas per day and was drilled with a 4,993 foot lateral. The PQ 57 well had gross production of 4.47 cubic feet of natural gas per day and was drilled with a 4,960 foot lateral.

The PQ 58 well had gross production of 6.03 million cubic feet of natural gas per day and was drilled with a 4,895 foot lateral. The PQ 59 well had gross production of 6.2 million cubic feet of natural gas per day and was drilled with a 5,000 foot lateral. The PQ 61 well had gross production of 2.97 million cubic feet of natural gas per day and was drilled with a 4,949 foot lateral.

PetroQuest Energy has reached total depth on ten other Woodford wells and plans to complete these ten wells and up to three others during the fourth quarter of 2011.

PetroQuest Energy has also started to develop a section of its Woodford shale acreage that contains high quantities of liquid hydrocarbons. The company plans to drill between 12 and 15 wells in this area in 2012.

One well drilled and completed into this section was the PQ 52, which started producing in late June 2011. The PQ 52 well had a 24 hour initial production rate of 8.94 million cubic feet of natural gas per day. This well was producing 4.54 million cubic feet of natural gas per day, with 1,200 Btu content as of 9/30/2011.